Real Estate Math
What is the simple interest on $200,000 at 6% for 90 days (use 360-day year)?
A$2,400
B$3,000✓ Correct
C$12,000
D$6,000
Explanation
Simple interest = Principal × Rate × Time = $200,000 × 6% × (90/360) = $200,000 × 0.06 × 0.
Related Utah Real Estate Math Questions
- A Utah seller's home is listed at $385,000. They receive an offer for 97% of list price. What is the offer amount?
- A 30-year mortgage for $320,000 at 6% has a monthly payment of $1,919. What is the total interest paid over 30 years?
- A Utah investment property has an annual gross rental income of $42,000. The vacancy rate is 5% and operating expenses total $16,000. What is the net operating income (NOI)?
- A homeowner in Utah has $95,000 in equity in their home. Their home is worth $425,000. What is their current LTV?
- A Utah home was purchased for $300,000 and sold for $375,000 three years later. What was the annualized appreciation rate? (Simple calculation)
- A Utah real estate team of 5 agents closes an average of 3 transactions per agent per month at an average price of $400,000 with a 6% commission split evenly. How much does the team gross per month?
- An agent lists a home for $499,000. It sells for 98% of list price. The total commission is 5.5%. What does the listing brokerage receive if commission is split 50/50?
- A Utah property sells in a buyer's market. The list price is $450,000 and it sells for $432,000 after 75 days on market. What was the price reduction percentage?
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →